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I'm expecting a 10-15% rapid drop once we hit $10k

flashforward

Seriously thinking of putting in a sell order @ ~ $9980.
Then buy back in the coming days

Anyone else thinking the same?

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Shauny2010

SkySter wrote: »

You're right. Jumped back in.

An expensive move, Bitcoin has risen $1000 to just under $11,000
Just HODL its all you need to do here

SkySter

Shauny2010 wrote: »

An expensive move, Bitcoin has risen $1000 to just under $11,000
Just HODL its all you need to do here

In the overall scheme of things it was a small hit. But you're right. A lesson learned.

jobless

SkySter wrote: »

You're right. Jumped back in.

Not often I'm right

... Just been following things a lot recently and wall Street is about to enter.. one firm testing their product this week with a view to opening second week in December, likes of JP Morgan saying they will offer it etc... There could literally be a wall of money coming... very hard to predict drops if it's the case

The One Doctor

Woke up at 0530 to my phone alerts going mad, BTC at €9450. Thought I'd FOMO for once but something made me wait. Lo and behold the price dipped to €8830 as the Eurozone woke up at 0600. Happy days.

flashforward

OK looks like I was drastically wrong with my prediction. Instead of the 10-15% drop we have seen that rise in 1 day....

I sold my BTC when the exchange hit $9980.
And I have just bought into ETH and LTC with the proceeds.

Again as most people have said has proved true - HODLing is the best route.

BTC is uncomfortably high for me right now to buy back in. However I am likely very wrong and we will see $15k coin by Xmas at this rate.....

BorneTobyWilde

Does the price need to rise, so that there is enough currency to go around, if it was used more and more as a means of payment.

Shauny2010

flashforward wrote: »

OK looks like I was drastically wrong with my prediction. Instead of the 10-15% drop we have seen that rise in 1 day....

I sold my BTC when the exchange hit $9980.
And I have just bought into ETH and LTC with the proceeds.

Again as most people have said has proved true - HODLing is the best route.

BTC is uncomfortably high for me right now to buy back in. However I am likely very wrong and we will see $15k coin by Xmas at this rate.....

Don`t beat yourself up, profit is profit. Bitcoin will not continue to climb in a straight line, people take profits, new money then enters the system and off it goes again.
You could HODL your cash for another while and see what happens. I have a feeling that one of these or maybe all are about to blow up.

Tether - now looks like a scam with no dollars to back it
Bitfinex - If Tether goes then so does Bitfinex
Bitfinex - gets hacked again
BitConnect - Certainly a pyramid scheme

If any of these happen then expect a crash.

ZeroThreat

Shauny2010 wrote: »

Don`t beat yourself up, profit is profit. Bitcoin will not continue to climb in a straight line, people take profits, new money then enters the system and off it goes again.
You could HODL your cash for another while and see what happens. I have a feeling that one of these or maybe all are about to blow up.

Tether - now looks like a scam with no dollars to back it
Bittrex - If Tether goes then so does Bittrex
Bittrex - gets hacked again
BitConnect - Certainly a pyramid scheme

If any of these happen then expect a crash.

Bittrex, or do you mean Bitfinex?

I think you may be overestimating the important of bitconnect.

Shauny2010

ZeroThreat wrote: »

Bittrex, or do you mean Bitfinex?

I think you may be overestimating the important of bitconnect.

Yes Bitfinex, jezz I had bittrex in my head for some reason
Good catch

The One Doctor

That flash crash severely shook the market's confidence today. Glad I got out with a small profit. Back to LTC for me.

Lesson learned - greed is dangerous.

soirish

Good call OP!

SkySter

soirish wrote: »

Good call OP!

Indeed. I'd imagine the next "big even" and repeat will be at 15k given 11k was breached already.

discombobulate

soirish wrote: »

Good call OP!

It went nearly 15% over the 10k though and is still only 5% below 10k

Squozen

Yeah, yesterday was really the wrong day for me to say 'ah bugger it, I'll buy some Bitcoin'...

GreeBo

Squozen wrote: »

Yeah, yesterday was really the wrong day for me to say 'ah bugger it, I'll buy some Bitcoin'...

Only if you panic sell before the next bounce

annie.t

What are your thoughts folks about this dip? Severe or just correction?

Squozen

GreeBo wrote: »

Only if you panic sell before the next bounce

Oh, don't worry, I've been at this long enough to know I just need to bitch to my mates about the 'loss' I've made instead of selling.

SkySter

annie.t wrote: »

What are your thoughts folks about this dip? Severe or just correction?

I think this answer really depends at what point you bought in. One mans dip is another mans crash. Speaking personally I'd start getting concerned if BTC dropped below USD 5k. I'm hoping this won't happen given the huge numbers of new entrants to the market over the last few weeks. But there is clearly huge market manipulation going on and it is all pure gambling right now. We are not in a normal market and there are no rules. I look forward to the day when prices are driven by underlying best technology/potential but we're a long way from that right now.

annie.t

SkySter wrote: »

I think this answer really depends at what point you bought in. One mans dip is another mans crash. Speaking personally I'd start getting concerned if BTC dropped below USD 5k. I'm hoping this won't happen given the huge numbers of new entrants to the market over the last few weeks. But there is clearly huge market manipulation going on and it is all pure gambling right now. We are not in a normal market and there are no rules. I look forward to the day when prices are driven by underlying best technology/potential but we're a long way from that right now.

Im still in the profit. I got bit scared last night. Mc was dropping like crazy, support was at 275 billion which was tested and then next support was at 240. Today looks much better but need to stay tuned. Have been thru last 2 crashes but somehow they felt different as fuelled by fud. Or maybe i didnt know as much back then and had rose tinted glasses on

Wombatman

Made 1.5k off a 5k investment over the last month. Have cashed out all and plan to hold off now for a couple of weeks. Can't handle the volatility right now.

machiavellianme

Everything seems to be recovering today. Climbing gradually for the last hour or two

GreeBo

Wombatman wrote: »

Made 1.5k off a 5k investment over the last month. Have cashed out all and plan to hold off now for a couple of weeks. Can't handle the volatility right now.

Goes to show the madness, since the 9th Nov, I'm +3.1K with a 5k investment
(albeit that 5K was spread out over 4 separate drop over the course of that time)

The volatility is scary alright, I'm not cashing out, just trying to stop refreshing my cointracking.info page

Squozen

I'm down about €900 on a near-€11k investment right now (I stupidly invested on Wednesday because a stop-limit order on one of my index funds had triggered and the BTC news looked exciting) and I'll be happy to walk away with a 10-20% return in the next couple of weeks.

Moral of the story is don't invest part of your house deposit in crypocurrency, even if you're a bit bored at work.

GreeBo

Squozen wrote: »

I'm down about €900 on a near-€11k investment right now (I stupidly invested on Wednesday because a stop-limit order on one of my index funds had triggered and the BTC news looked exciting) and I'll be happy to walk away with a 10-20% return in the next couple of weeks.

Moral of the story is don't invest part of your house deposit in crypocurrency, even if you're a bit bored at work.

Was all that 11K invested on Wednesday or thats the total invested now?

Even still, things are picking back up all day, pretty much green across the board.
(Which is all the more annoying as Kraken still have my latest deposit on hold)

Moral of the story, dont do SEPA transfers for exactly the same amount within a few days of each other.

ZeroThreat

GreeBo wrote: »

Goes to show the madness, since the 9th Nov, I'm +3.1K with a 5k investment
(albeit that 5K was spread out over 4 separate drop over the course of that time)

The volatility is scary alright, I'm not cashing out, just trying to stop refreshing my cointracking.info page

You think you get nervy, now imagine those figures above are an order of magnitude larger

Selik

The problem with investing early in Bitcoin is how crazy the volatility is once you're talking a few k per day of what was only a few 100 at one point.

Always take at least a bit of profit on the way up and if you can keep it ready to buy any dips again - best way to increase your coins if that's your goal. It's not foolproof though and even I've been caught once or twice.

It's mostly worked for me the last year or so anyway but having said that it's piss easy in a rising bull market. I reckon we will be testing ATHs again soon and if that doesn't hold potentially down to 9k again and further down to 8k if thats doesn't subsequently hold. Long term we're good!

I know this thread has been going for 4 years or so and it's fascinating looking back but look as this one from the property bears on the property pin started in 2011 by a very very early bitcoin enthusiast. Plenty of early days threads like that on Bitcointalk but from an Irish perspective this is great and very interesting.

http://www.thepropertypin.com/viewtopic.php?f=19&t=37667

GreeBo

Selik wrote: »

The problem with investing early in Bitcoin is how crazy the volatility is once you're talking a few k per day of what was only a few 100 at one point.

If anyone has any $1 BTC causing them problems I'll gladly take them off your hands for $5!

I'm not convinced about cashing in to wait for the next drop...seems like trying to time the market which is never good with regular stocks that have fundamentals...cryptos just have mentals.

ZeroThreat

Selik wrote: »

The problem with investing early in Bitcoin is how crazy the volatility is once you're talking a few k per day of what was only a few 100 at one point.

Always take at least a bit of profit on the way up and if you can keep it ready to buy any dips again - best way to increase your coins if that's your goal. It's not foolproof though and even I've been caught once or twice.

It's mostly worked for me the last year or so anyway but having said that it's piss easy in a rising bull market. I reckon we will be testing ATHs again soon and if that doesn't hold potentially down to 9k again and further down to 8k if thats doesn't subsequently hold. Long term we're good!

I know this thread has been going for 4 years or so and it's fascinating looking back but look as this one from the property bears on the property pin started in 2011 by a very very early bitcoin enthusiast. Plenty of early days threads like that on Bitcointalk but from an Irish perspective this is great and very interesting.

http://www.thepropertypin.com/viewtopic.php?f=19&t=37667

The Irish establishment in particular are very hostile to cryptos as I was saying on another thread on this forum. Let's hope nanny state here doesn't decide to ban bitcoin & the rest.

Squozen

GreeBo wrote: »

Was all that 11K invested on Wednesday or thats the total invested now?

All on Wednesday, mate. :eek:

I was toying with putting some more in now that the price is down but I think I'm better off staying diversified.

GreeBo

Squozen wrote: »

All on Wednesday, mate. :eek:

I was toying with putting some more in now that the price is down but I think I'm better off staying diversified.

You should be back in profit so, Wednesdays price was ~9.8K, its 10.8K now?

/edit
ah, forgot it was an order....what price was it at?